LAS VEGAS, July 21, 2026 /CNW/ -- Avaí Bio, Inc. (OTCQB: AVAI) ("Avaí" or the "Company"), an emerging biotechnology company developing transformative cell-based therapies for diabetes, age-related disorders, and anti-aging, today announced that, together with its joint venture partner Austrianova, it has successfully concluded negotiations and reached agreement on the terms of a collaboration with a premier, internationally acclaimed, partner to provide insulin-producing cells for Insulinova's groundbreaking diabetes therapy.
Insulinova is a joint venture (JV) between Avaí and Austrianova, established in late 2025 to develop a revolutionary cell-based therapy for diabetes. The therapy combines cells that have undergone an innovative cell-programming process to become insulin-producing cells with Austrianova's proprietary Cell-in-a-Box® encapsulation technology. Once implanted, the encapsulated cells are designed to produce insulin in response to the body's changing needs, with the potential to provide a more natural alternative to insulin injections for people with type 1 and insulin-dependent type 2 diabetes.
"We are delighted to have successfully completed negotiations and reached this important agreement, which represents a significant milestone for Insulinova and the advancement of our diabetes program," said Chris Winter, Chief Executive Officer of Avaí Bio. "Securing a world-class partner to supply the insulin-producing cells is a critical step in advancing the Insulinova program.
Together with Austrianova's Cell-in-a-Box® encapsulation technology, this agreement brings together the key components needed to move this promising therapy forward. We believe this combination has the potential to restore natural, glucose-responsive insulin production and ultimately provide an alternative to lifelong insulin injections for people living with type 1 and insulin-dependent type 2 diabetes."
Dr Brian Salmons, Chief Executive Officer of Austrianova, added, "Our team has spent many years developing and validating the Cell-in-a-Box® technology. Clinical studies have demonstrated that encapsulated cells can survive for extended periods following implantation, while the capsules protect the cells and allow them to produce biologically active compounds. We believe this technology is ideally suited to support implanted insulin-producing cells, with the potential to provide regulated, glucose-responsive insulin production for people with diabetes."
The agreement is subject to the execution of definitive agreements and customary closing conditions. The Company expects these documents to be completed in the coming days and will provide further details upon completion.
About Avaí Bio, Inc.
Avaí Bio, Inc. is an emerging biotechnology company focused on identifying genetically modified cell lines, and through joint venture and licensing agreements developing innovative cell-based therapies.
About Austrianova (SGAustria Pte. Ltd.)
Austrianova, based in Singapore, is a leading biotechnology company specializing in cell encapsulation, GMP-grade cell products, and cell line development, backed by over 50 peer-reviewed publications and partnerships with global pharmaceutical and biotech companies.
More information about Avaí Bio can be found at https://www.avaibio.com
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Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements because of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http://www.sec.gov). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, governmental and public policy changes, the Company's ability to raise capital on acceptable terms, if at all, the Company's successful development of its products and the integration into its existing products and the commercial acceptance of the Company's products. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date after the date of the press release.
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Avaí Bio, Inc.
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SOURCE Avaí Bio, Inc.
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